Aucnet Inc. completed the acquisition of Gallery Rare Ltd. from Ota Shokai Co., Ltd and Adventure Inc..
September 14, 2020
Share
Aucnet Inc. (TSE:3964) signed a contract to acquire Gallery Rare Ltd. from Ota Shokai Co., Ltd and Adventure Inc. (TSE:6030) for approximately ¥600 million on August 25, 2020. Aucnet will acquire 0.03 million shares of Gallery Rare. Adventure Inc. holds 80.95% stake, Ota Shokai Co., Ltd holds 6.75% stake and other individual shareholders holds 12.3% stake in Gallery Rare. The transaction is expected to close on September 15, 2020.
Aucnet Inc. (TSE:3964) completed the acquisition of Gallery Rare Ltd. from Ota Shokai Co., Ltd and Adventure Inc. (TSE:6030) on September 15, 2020.
AUCNET INC. is a Japan-based company mainly engaged in the automobile business and digital products business. The Company operates through three business segments. The Automobile segment is engaged in the provision of used car television (TV) auctions, shared inventory markets, live broadcast auctions, bid agency services, and vehicle inspection services. The Digital Products segment is engaged in the provision of auction and distribution related services for used smartphones and used personal computers (PCs) and other used digital devices. The Other Information Distribution segment is engaged in the provision of auction and distribution related services for branded products, used motorcycles, cut flowers and pots. It is also engaged in the development and provision of systems, the provision of communication, operation and maintenance services, the business related with used medical equipment, and overseas business.